A well-designed savings plan that complements your pension and other retirement assets can help you achieve your retirement goals and, in many cases, defer taxes at the same time.
Savings through your church employer
With 403(b) plans:
- Through your defined contribution pension plan
If you have the defined contribution retirement plan for lay employees, you may save by adding to your employer's contributions. If your employer also matches a percentage of your contributions, you can make the most of this benefit by contributing the maximum to meet your employer's match. In addition to adding to your retirement savings, your contributions reduce your gross income for federal and most local taxes. - Through the Retirement Savings Plan
If you have the defined benefit retirement plan for lay employees, you may not contribute to your pension plan, but you can save in other ways. Ask your employer to help you enroll in the Retirement Savings Plan (RSVP), offering you a range of investment choices. - If you do not have an Episcopal Church pension plan ask your employer to help you enroll in the Retirement Savings Plan (RSVP) .
Annuities you may purchase individually
Church Life Annuities & IRAs are another way to add to your retirement income. These investments can guarantee* steady income payments for as long as you choose.
*Guarantees are subject to the claims paying ability of Church Life Insurance Corporation.
Life insurance and annuities are issued by Church Life Insurance Corporation ("Church Life"), an affiliate of the Church Pension Group. Church Life is solely responsible for its own financial condition and contractual obligations.
Retirement Savings Disclaimer
Life Insurance and Other Insurance Disclaimer